By Living Room Realty, April 15, 2021
The Owens-Willson Family is made up of Grandma, Parents Andrew and Sebrina, and three, weed-like growing boys. Andrew and Sebrina made the move from Colorado before the covid hit and were referred to me by a good friend and neighbor of mine. We had our initial “thinking of buying a home” meeting over a year ago. We made all of the preparations to get them going, including getting them pre-approved with a great local lender, prioritizing wants and needs for their new home, and identifying budget and ideal locations. Then the lockdown came in March of 2020 and so much was put on pause, including their new home search. They felt it was best to stay in their small rental in Sellwood for the time being until things shook out.
Looking for homes felt risky; especially with Grandma living with them. Managing full-time jobs, care of their senior mother, remote learning for their three boys during the pandemic, made the home shopping process feel impossible. Like so many out there, the amount of time they spent together in their rental only exacerbated the need for more space for their family and we re-connected in January of 2021 to explore how the market had changed over the past year.
The market had changed, like, a lot. Far more buyers entered the market than there were new listings and both competition for homes and prices went up. Buyers in February 2020 paid an average of $84,100 or a median of $72,100 less than buyers in February 2021, where the average sale price increased 18.4% from $457,900 to $542,000. Given the new market climate, Andrew and Sebrina adjusted their location expectations, and utilizing an escalation clause and strong, clean terms in their offer, we were able to snag them an amazing home with their first try!
Closing day is sweeter when you’ve needed significantly more space for the past year. Big congratulations Ownes-Wison Family!
I’m honored to be a part of your journey!
-VA
